Cyber threats , risk or vulnerability? What are the differences?
Cyber threats are real—and more common than you think.
The word “threat” is often confused with (or used interchangeably with) the words “risk” and “vulnerability.” But in cybersecurity, it’s important to differentiate between threat, vulnerability, and risk. A threat exploits a vulnerability and can damage or destroy an asset. Vulnerability refers to a weakness in your hardware, software, or procedures. (In other words, it’s a way hackers could easily find their way into your system.) And risk refers to the potential for lost, damaged, or destroyed assets.
Cyber threats
A cyber or cybersecurity threat is a malicious act that seeks to damage data, steal data, or disrupt digital life in general. The term ” cyber threats ” include computer viruses, data breaches, Denial of Service (DoS) attacks, and other attack vectors.
Additionally, cyber threats also refer to the possibility of a successful cyber attack that aims to gain unauthorized access, damage, disrupt, or steal an information technology asset, computer network, intellectual property, or any other form of sensitive data. Cyber threats can come from within an organization by trusted users or from remote locations by unknown parties.
Vulnerabilities
A vulnerability is a weakness that cybercriminals exploit to gain unauthorized access to a computer system. Following the exploitation of a vulnerability, a cyberattack occurs. Where it executes malicious code, installs malware and even steals sensitive data.
To exploit vulnerabilities use a variety of methods. These include SQL injection, buffer overflows, cross-site scripting (XSS), and open source exploit kits that look for known vulnerabilities and security weaknesses in web applications.
Risk
When we talk about cybersecurity we refer to the probability that your company will lose valuable information or money as a result of a cyber attack. That can include anything from a virus or malware attack to a phishing scam or data theft.
As the world becomes more reliant on technology, the risk of cybersecurity breaches grows. That’s why it’s important for individuals and businesses alike to understand what cybersecurity risk is and how it can affect their company.
Some of the key points to be considered while designing risk management strategies are:
1- Risk Prioritization
It is important for organizations to address breaches and risks as per priority and relevance. Many vulnerabilities in the systems not be prone to exploitations and hence do not pose a higher risk. So, vulnerabilities should be patched as per the risk levels.
2- Risk Tolerance levels
It is important that the company knows and estimates its level of risk tolerance. When a risk management framework is in place, the risk-bearing capacity of the company is regularly verified.
3- Knowledge of Vulnerability
Threats will exist, but if there are no vulnerabilities, there is little or no risk. Therefore, we must identify them and for this we resort to regular monitoring of vulnerabilities.
Conclusion
Vulnerabilities, threats and risks are different. Organizations spend a lot of resources on all three, and many don’t understand the differences between them. A threat generally is a malicious act that destroys data, inflicts damage, or disrupts operations. In cybersecurity, threats generally are ransomware, viruses, denial-of-service attacks, and data breaches. Something threatens the action, but the action was not performed.
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Vulnerabilities are flaws in a system that leave it open to potential attacks. The main problem behind vulnerabilities has to do with weaknesses that leave systems open to threats. Risk represents the potential harm related to systems and the use of systems within an organization. Threats, vulnerabilities, and risks are different and often interconnected when it comes to cybersecurity.
See how learning about Cybersecurity into the company ‘s DNA
Sources:
(1) Security Boulevard
(2) Forbes
(3) threatanalysis
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GASITE
GASITE, is an expert company in cutting-edge technology. It provides the development of its clients’ digital processes, improving and updating their infrastructure. The objective of this company is to provide top-level solutions in technology and information security.
They have qualified personnel and in constant training. That is why they are at the technological forefront of the technological needs of their clients. Always focused mainly on connectivity solutions, servers and cybersecurity.
If you have a small or medium business and need to implement new technologies, great! You are now part of technological development and growth, and your chances of staying out of date will be reduced.
Cybersecurity is the practice of protecting important systems and sensitive information from digital attacks. Also known as information technology (IT) security or cybersecurity measures are designed to combat threats against networked applications. Whether those threats originate inside or outside the organization.
GASITE puts at your disposal the tools and procedures that are necessary to implement the security of your data. Because your company’s confidential information is its most important asset. Therefore, we invite you to learn more about cybersecurity solutions in Mexico.
In addition, GASITE offers advice and specialized support in information technologies. This company bet on the continuous training of its staff to keep up to date. In this way, it guarantees better advice and support for each of its clients’ needs.
GASITE is one of the companies that collaborates with Soffid in Mexico.
For more information follow the link to their website.
New Challenges faced by Chief Information Officer today
Nowadays, Chief Information Officer are focusing on business outcomes, agility, and improving customer experience through technology. While at the same, streamlining backend operations with automation is becoming one of the primary focus areas of technology leaders.
Despite this pressing need for digitization in the organization, around 79% of them are still in the early stages of technology transformation, according to Mckinsey. It is due to critical issues related to legacy system barriers such as integration, security, etc., in today’s landscape. So, there is a need to create an environment to provide holistic accessibility to emerging technologies.
Challenges faced by Chief Information Officer
The top challenges faced by Chief Information Officer in 2022 are as follows:
1-Digital Transformation has been evolving slowly.
45% of executives don’t think their company has the right technology to implement a digital transformation. But COVID-19 has forced many organizations to re-examine the pace of their digital transformation initiatives. 35% of companies view digital technology as disruptive to their business model.
2-As data becomes more distributed, integrating a large volume of data from different sources in disparate formats on the legacy system is a roadblock.
97% of organizations planning to undertake digital transformation initiatives. But integration challenges hinder efforts for 84% of organizations. So, the CIOs priority in 2021 is how to extract powerful insights by removing the barriers around the data. At the same time they must be accessible.
3-Over the last few years, there has been a massive growth and adoption of new technologies, across the businesses.
Such as AI/ML, data science, etc. As a result, there is a shortage of required skillsets in an organization. According to Forrester, while 75% of businesses have a digital strategy, only 16% claim to have the skills to deliver it.
4-Legacy systems are unable to keep up with business demands.
One reason is skyrocketing data growth and the inability to manage multiple data formats on legacy storage platforms. So, CIOs must make a considered choice for modern data platforms that allows integrating multiple datasets from a variety of sources and create a single view of the data.
5-Manual processes and workflows are no longer feasible for many organizations.
Automation initiatives that used to put on the back burner are now quickly spun up. Chief Information Officer need to start thinking of automation as a liberator of their people. Since it works as an executioner freeing the employee from repetitive tasks to focus on more productive tasks.
6-As CIOs are constantly addressing new and developing business challenges, there is a need to adopt emerging technologies such as AI/ML and IoT to compete and stay ahead of the evolutionary curve.
As we enter 2021, we must look beyond the latest trends and develop a mindset that enables them to identify a problem that is looking for an answer.
7-Fostering innovation is one of the priorities of CIOs today.
But keeping up with the business demand with existing resources has become a challenge. For CIOs to keep up with business demands, new technologies and processes need to be implemented. Innovation can’t happen if there is a massive backlog of business requests in an organization.
8-Addressing Evolving Security Threats.
As technology advances so too do the methods of exploiting it for nefarious reasons. Hackers have existed if tech has existed, but in recent years their tactics have evolved and show no sign of slowing. In 2021 two of the biggest security challenges CTOs will face are phishing and ransomware. Although phishing is not a new hacking tactic, how it is carried out has evolved. Scammers now use SMS and phone calls to impersonate reputable sources and trick consumers into divulging sensitive information. To combat this, IT leaders must re-think their credential management and foster a strong sense of security awareness across their organization.
9-Increased Investment in Edge Computing.
Data growth outside of the data center is a new reality for most organizations. These days enormous quantities of data are being generated from remote branches, mobile devices, and IoT smart devices. By 2025, Gartner1 estimates that 75% of enterprise data will be generated and utilized outside of the data center. The need to deploy computing power and storage capabilities at the network’s edge will pose a great challenge to CTOs & CIOs in 2021 and beyond.
10-Maintaining Data Privacy & Governance.
Although data can be an incredible source of useful insight, the risk that comes with handling it poorly can make it a toxic burden that opens your organization up to penalties, fines, or worse. In 2021 California’s Consumer Privacy Act (CCPA), which is generally seen as “GDPR light,” goes into effect, and many other states will likely follow suit. Strict data privacy regulations are quickly becoming the norm, making data security and governance one of the most pressing challenges for IT leaders.It thus becomes indispensable for you to learn how to lead the new normal.
11-Providing a Perfect CX.
Digital customer experience is the new battlefield for staying competitive, and the responsibility of delivering a seamless CX falls squarely on IT leaders.
Security issues
One of the biggest tech-related challenges inherent with shifting to a hybrid work model is, without a doubt, security. When work happens within the office, Chief Information Officer have a certain level of control over security.
They can set specific parameters to keep their networks, data, and sensitive customer and employee information secure. For example, they can restrict access to certain websites or applications, or require two-factor authentication to access certain files or information.
But there’s much less of that control when employees are working remotely. That’s why remote work can pose a much larger security risk than having your team contained to your office. For example, employees generally have less secure Wi-Fi connections when working remotely.
It’s also more difficult to monitor, control, or put safeguards around your employees’ internet usage when they’re working out of the office and/or on their own device—which, depending on their behavior, can add more risk to the companY.
There’s no denying that security is a risk when shifting to a hybrid work model. But CIOs can counteract those risks with effective employee training. If you’re concerned about cybersecurity for your hybrid team, make sure you’re training employees on how they can keep their devices and networks safe and secure when they’re working remotely. For example, you might create a “best practices” training that goes over the basics of cybersecurity, the do’s and don’ts of how to stay secure when working remotely, and some of the most common security issues employees need to be aware of.
Resources:
(1) Gatner
(2) Mckinsey
(3) cioinsight.com
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Cybersecurity at Healthcare companies
Digital technologies make it easier and more efficient to deliver patient care and provide better outcomes. However, the rise of digital technologies and the growing interconnectedness between different healthcare systems come with increasing healthcare cybersecurity threats.
Weak cybersecurity measures expose companies to serious risk. Victim companies suffer operationally, as systems are rendered unusable. In addition, it affects your reputation, because customers lose trust. And, since the regulators are strict, they end up legally affected, too.
The healthcare industry is particularly vulnerable because it uses extremely sensitive data. For example, pharmaceutical companies store proprietary scientific data and intellectual property. Medical device companies develop systems that interface such devices with physician, patient, and medical entity data collection.
Additionally, operational functions are often literally matters of life and death. Breaches in healthcare and pharma cost more than those in almost any other industry.
After Covid-19, healthcare cybersecurity risk is higher than ever
Cyberattacks grabbed headlines throughout 2021 as hacking and IT incidents affected government agencies, major companies, and even supply chains for essential goods, like gasoline. For healthcare, this year was even more turbulent as cybercriminals took advantage of hospitals and healthcare systems responding to the Covid-19 pandemic.
More than one health care provider was forced to cancel surgeries, radiology exams, and other services, because their systems, software, and/or networks had been disabled
The COVID-19 crisis will continue to test the resiliency of the global healthcare industry.
What can healthcare organizations do to address the challenges?
Strategies include the following:
- Implementing cybersecurity technology
- Building a talent pool of professionals skilled in healthcare cybersecurity. Do you know about cybersecurity skills?
- Developing a healthcare cybersecurity strategy focused on patient privacy protection
- Addressing vulnerabilities in legacy systems in healthcare
- Keeping tabs of new developments to understand information technology (IT) challenges
By introducing cybersecurity as a value proposition and formulating clear action plans, healthcare organizations can meet cybercriminals fully armed — and give them a worthy response. See how Soffid can help you stay ahead of the curve in a rapidly evolving digital world. Let’s talk!
Sources:
(1) Security Magazine
(2) Contentsecurity.com
(3) Infosecuritymagazine
(4) Forbes
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